WWE has made a financial investment in the Premier Lacrosse League.
According to Bloomberg, the American professional field lacrosse league recently attracted new investors, including WWE and the Thirty Five Ventures fund run by NBA veteran Kevin Durant.
It was mentioned that the league plans to use the increased funds to stage a new competition and pursue greater media goals. The Chernin Group, an existing investor, took the lead in the investment round. Despite stating that the latest investment valued the company twice as much as the last round in June 2021, founders Paul and Mike Rabil chose not to give precise monetary amounts.
The amount WWE has invested is unknown at this time, although it will probably be made known to WWE investors soon.
Since the PLL was founded in 2018, a number of well-known figures from sports, media, and entertainment have backed it, including WWE and Durant’s startup fund. In order to establish the first professional outdoor lacrosse league in the US, the PLL bought Major League Lacrosse in 2020.
PLL is currently playing in their fourth season after inking a media rights agreement with ESPN earlier this year.
In order to help the league grow with the additional money from WWE and Durant, Paul Rabil, who gave up playing after last season to take the helm of the PLL, is considering holding an off-season tournament that will take place right before the spring college lacrosse season next year.
The Rabil Brothers pointed out that adding WWE, a business that likewise operates on a tour-based basis, will help the league’s entertainment reputation rise.
WWE has not made any public comments regarding the investment, but we’ll keep you updated.
